TCS acquires Comicrom for $23 mn

IT major Tata Consultancy Services Ltd has acquired 100 per cent stake in Chilean software firm Comicrom for $ 23 million.

Comicrom is a privately held company with an 1,257 employee strength and provides business process

outsourcing services to banks, insurance firms, pension funds, government bodies and other large corporations in Chile, TCS said in release on Tuesday.

The company had revenues of $35.5 million during FY05 and an operating margin of 14 per cent.